Banks Have Traded Over $33 million On Interbank Forex Market- RBZ

Reserve Bank of Zimbabwe (RBZ) deputy director for financial markets William Manhimanzi said the interbank foreign exchange market has so far traded over $33 million.

Speaking at the Institute of Chartered Accountants of Zimbabwe monetary policy review in Bulawayo last Friday, Manhimanzi said:

To date over $33 million has been traded on the interbank foreign exchange market. It’s not necessarily what we gave them . . . we’re fairly pleased, obviously we want more trades to actually happen. Obviously, people are still holding on because of the 2,5 exchange rate, which was perceived to have been a fixed exchange rate and for those that follow the exchange rate you will see it moving trending upwards going forward.

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